Stable with slight increase of 2% from previous year
Special Rates
Preferential Rate under CARICOM-US Trade Agreements
0%
Applicable to qualifying goods under the Caribbean Basin Initiative (CBI) with proper documentation and certification of origin from the United States.
A recent bilateral trade agreement between the United States and Belize has facilitated an increase in the export of pharmaceutical products, including tablets and similar forms under HS Code category, with packages not exceeding 10 kg, from the US to Belize.
2023-10-15
Impact: This agreement is expected to enhance market access for US pharmaceutical companies in Belize, potentially increasing export volumes by 15% over the next year.
Belize Implements New Import Standards for US Tablets
Belize has introduced stricter quality control measures for imported pharmaceutical products in tablet form from the US, focusing on packaging and labeling requirements for items under 10 kg.
2023-09-20
Impact: US exporters may face temporary delays and increased compliance costs as they adapt to the new standards, potentially affecting trade flow in the short term.
US Exporters Report Surge in Demand for Tablets in Belize
US exporters of pharmaceutical tablets and similar forms in lightweight packages have reported a significant rise in demand from Belize, driven by local healthcare initiatives.
2023-08-05
Impact: This surge is likely to strengthen trade ties, with an estimated 10% growth in exports of these products to Belize in the current fiscal year.
Policy Updates
Belize Updates Tariff Rates for Pharmaceutical Imports
Belize has revised its tariff structure for pharmaceutical products under HS Code categories, including tablets in packages not exceeding 10 kg, reducing the duty rate by 5% to encourage imports from the US.
Date: 2023-10-01
US Trade Commission Reviews Export Controls on Pharmaceuticals
The US International Trade Commission announced a review of export controls for pharmaceutical products, including tablets and similar forms, to streamline trade processes with Central American countries like Belize.
